economic freedom

Which disgustingly rich “robber baron” single-handedly saved all the whales?

Eventually I want to revisit the reputation of those horrid men who built the American economy at the end of the 1900s. They gave us massive breakthroughs in economic development.

Until I can write some extended articles, I’ll accumulate tidbits as I go.

Got to thinking about this when Bruce Oksol of Million Dollar Way pointed out

…that Rockefeller and Standard Oil single-handedly saved the whales from extinction

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By Jim Ulvog, ago

More on stealing raisins. Oops. I meant to say, more on implementing the New Deal.

The New Deal policy of confiscating a portion of raisins from farmers every year in order to drive up prices to consumers has been previously discussed here, here, and here.

The Wall Street Journal provides more background on this foolishness that is being considered in the Supreme Court today: The Incredible Raisin Heist / A property-rights challenge to federal marketing orders hits the Supreme Court.

(Cross-post from my other blog, Outrun Change.)

I’ve been wondering what the Raisin Administrative Committee does with all those raisins after they are surrendered by the farmers. Editorial points out the government may sell the raisins on the open market, ship them overseas, or just give them away.

I have to find someone far brighter than me to explain how selling the raisins or giving them away stabilizes prices. Seems that would drop prices to what would otherwise be equilibrium or even lower.

The WSJ editorial outlines the progress of the case through the federal courts. I promise you this is a paraphrase of the editorial and not the outline of a dystopian political novel I’ve been mulling over.

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By Jim Ulvog, ago

Supreme Court to hear arguments whether feds can continue to take raisins without compensation

For reasons that defy logic, common sense, and basic morality, the federal government still has in place a New Deal era policy that raisin farmers must turn over some percentage of their crop to the federal government without compensation.

The purpose of the program is to increase prices to consumers.

No, this isn’t an April Fool’s Day post.

No, I’m not making this up.

George Will points out in his April 17 article, Shriveled grapes, shriveled liberty, the Supreme Court will finally hear oral arguments next Wednesday (4/22) on a case that has been in court for years.

(Cross-post from my other blog, Outrun Change.)

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By Jim Ulvog, ago

The source of wealth, as explained by two musicians.

Frank Zappa and Bob Dylan explain where jobs, growth, prosperity, and wealth come from.

Hint: it isn’t from government. (cross-post from my other blog, Outrun Change.)

A Business Lesson by Frank Zappa

[youtube=https://www.youtube.com/watch?feature=player_embedded&v=TWXUatVuxQg&x-yt-ts=1421914688&x-yt-cl=84503534]

He puts out $250,000 of his own money to get a tour ready. He takes all that risk expecting it will pay off later. Here’s the deal: (more…)

By Jim Ulvog, ago

A tribute to Abraham Lincoln

Born: February 12, 1809 Died: too soon.   [youtube=https://www.youtube.com/watch?v=s9SHEzAqFk8&feature=player_embedded]   The challenge at the end of book I read on the Civil War said that we should speak back the words of Lincoln if we have benefited from freedom and opportunity. I made note of the idea but didn’t make note Read more…

By Jim Ulvog, ago

In addition to gracious help from Indians, what moved the Pilgrims from starving to thriving?

The first winter for the Pilgrims was terrible. Between starvation, pneumonia, and tuberculosis, about half died.

The second winter was terrible, again with little food. Those who survived the first two winters only did so by the goodness of the Native Americans who graciously shared their food.

The third winter was far better, with plenty of food. In a few years, there was enough abundance that the Pilgrims had paid off their debt to those who financed their trip. They were alive, thriving, and free of debt.

Those are a few highlights of the Pilgrims’ story told by Karl Denninger in his article from 2006, which is reposted at Market-Ticker:  The Truth About Thanksgiving.

What caused the change from starving to thriving is the part of the story I never heard growing up.

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By Jim Ulvog, ago